Opposition to PSC "reform" bill grows

A bill aimed at improving utility regulation in Florida hasn't been up for a vote yet but the opposition is already growing.

The bill drew fire the day it was released. Now, Gov. Charlie Crist has threatened to veto it if it comes to his desk the way it is.

The parts of the bill drawing the most criticism are those that would shift some of the PSC's duties to a new agency under the Legislature -- potentially stripping regulators of their independence from lawmakers -- and disqualify one or more current commissioners.

Rep. Stephen Precourt, R-Orlando, introduced the bill last week on behalf of the House utilities committee, which he chairs. He said people have been asking, "Why do we want to do this?" He said change is needed in light of "some uncertainties currently involved" in the state's regulatory environment, including the downgrading of ratings for some companies that could lead to higher borrowing costs for "our citizens for potentially years to come."

Florida Power & Light officials expressed the concerns Precourt cited after the Public Service Commission all but rejected its request for a $1.27 billion base rate hike this year.

The utilities committee could vote on the bill as early as Thursday.

Crist said he prefers a bill passed in the Senate that aims to beef up utility regulation